10 Strategies For Offshore Banking Operations


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Starting an offshore enterprise is many times challenging because of the multiple jurisdictions available, depending on the purpose of your offshore business.

Offshore Banking Licenses

Offshore banking licenses are classified into two types, type A to take deposits everywhere including the offshore jurisdiction and type B to take deposits everywhere except for in the offshore jurisdiction.

U.S. Banking License

Since 2012 one of the associated territories of the U. S., Puerto Rico, is offering a license for international banking. It works as an offshore banking license type B.

Jurisdictions to incorporate an offshore company

There are plenty of places, where you could incorporate your offshore company, which suit and serve different business needs. We recommend jurisdictions that provide the minimum requirements of zero liability, confidentiality, and asset protection. Depending on your business structure and objectives, Belize is one of the best options to choose from. Other compelling jurisdictions to consider, depending on your business plan are Cayman, BVI, Antigua and New Zealand. Here are some of the best features of certain locations.

  • For simplicity: Seychelles, Nevis or Belize.
  • For asset protection: Cook Islands.
  • For operating a business internationally: Panama.
  • For doing business in Asia: Hong Kong or Singapore.
  • For financial services or ForEx licensed entity: Belize, Panama or New Zealand.
  • For hedges funds or compatibility with U.S. regulation: Cayman Islands.

Operating through an offshore company allows you to conduct your business efficiently and on a level of privacy and anonymity. Holding bank accounts and assets in an offshore company, rather than in your name, maximizes security. In many jurisdictions, the company officers, shareholders, and beneficial owners are not on the public record and their privacy is guaranteed by statute.

  • Offshore Corporation
  • Offshore sole-member Limited Liability Company (LLC)
  • Offshore multi-member LLC

A sole member offshore LLC is treated as a disregarded entity for the IRS. This investment and asset protection structure has simplified U.S. reporting requirements and will reduce your annual maintenance costs with the IRS if selected.

A sole-member offshore LLC is best suited for the following:

  • To manage your Self Directed IRA.
  • To hold an offshore bank account for a U.S. resident seeking asset protection.
  • To hold an international business that is expected to generate net profits that are less than the Foreign Earned Income Exclusion.

A multi-member offshore LLC is also a flow-through entity for U.S. tax purposes. However, it is reported as a partnership and requires a complex tax return. Offshore LLC partnerships are primarily used in joint venture arrangements.

To discuss the benefits of IBCs and LLCs, click the button below and schedule a consultation. We will gladly give you more details about the offshore structures and their requirements, clarify any information and answer all of your questions.

Check Our Video Presentation And Learn The Details To Apply For An Offshore Banking License

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